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I have two hypotheses as to why that is. Bill Gates is financially involved in a large number of startups mentioned in the article. Good PR = more sales = Gate

I have two hypotheses as to why that is. Bill Gates is financially involved in a large number of startups mentioned in the article. Good PR = more sales = Gates' portfolio is better off. The other reason is a little more conspiratorial. There is a growing trend of financial populism where politicians are clamoring for higher taxes on the rich (70% on $10+ mil). I think Gates is trying to mitigate this movement by showcasing how he uses his wealth for the greater good.

bluedino 8y ago
He's for higher taxes on the super-rich isn't he?
- sp332 8y ago
  He disagreed with AOC's recent proposal (70% marginal income tax rate above $10m/year) https://www.cnbc.com/2019/02/12/bill-gates-supports-wealth-tax-like-aoc-but-income-is-a-misfocus.html https://www.cnbc.com/2019/02/12/bill-gates-supports-wealth-t... but he has recently advocated for higher capital gains taxes and higher estate taxes. https://www.cnbc.com/2019/02/19/bill-gates-taxes-on-rich-should-be-much-higher-but-capitalism-works.html https://www.cnbc.com/2019/02/19/bill-gates-taxes-on-rich-sho... So maybe he's trying to direct the discussion away from quite such a high number.
  - akhilcacharya 8y ago
    He also advocated for taxing wealth in general instead of income and supported a 150% debt to GDP target (which..is basically what most MMT supporters want). He is right that a 70% top bracket won’t increase revenues by much.
jacoblambda 8y ago
Considering that Gates has publicly said that he wants the government to tax him more(He said it most recently during the AMA not to long ago) I would disagree.
- dtornabene 8y ago
  yeah, sort of. He isn't clamoring to be taxed quite yet. https://twitter.com/anandwrites/status/1087749307380523008?lang=en https://twitter.com/anandwrites/status/1087749307380523008?l...
threeseed 8y ago
None of this makes sense when you factor in that Bill Gates plans to give away all his money when he passes away. Many people in his position would be looking to try and make the world a better place for his children. Bill Gates however is simply technically strong and wealthy enough to do this through more direct means.
YjSe2GMQ 8y ago
I think the best argument against 70% on 10+mil income is the basic fact that it'll increase the tax take by only 0.3%, best case scenario (no tax dodging, no damage to the economy). This idea is almost not worth discussing. > One estimate puts extra annual revenue from Ms Ocasio-Cortez’s idea, which applies only to incomes above $10m, at perhaps $12bn, or 0.3% of the tax take. https://www.economist.com/leaders/2019/02/02/how-to-tax-the-rich https://www.economist.com/leaders/2019/02/02/how-to-tax-the-...
komali2 8y ago
Why, though? There's almost nothing anybody could do to put any sort of dent that Gates would ever feel into his wealth. He's so astronomically rich he's barely human. What could anybody do to affect him in a way that changes the things he could do with the money he has?

bluedino 8y ago

He's for higher taxes on the super-rich isn't he?

sp332 8y ago
He disagreed with AOC's recent proposal (70% marginal income tax rate above $10m/year) https://www.cnbc.com/2019/02/12/bill-gates-supports-wealth-tax-like-aoc-but-income-is-a-misfocus.html https://www.cnbc.com/2019/02/12/bill-gates-supports-wealth-t... but he has recently advocated for higher capital gains taxes and higher estate taxes. https://www.cnbc.com/2019/02/19/bill-gates-taxes-on-rich-should-be-much-higher-but-capitalism-works.html https://www.cnbc.com/2019/02/19/bill-gates-taxes-on-rich-sho... So maybe he's trying to direct the discussion away from quite such a high number.
- akhilcacharya 8y ago
  He also advocated for taxing wealth in general instead of income and supported a 150% debt to GDP target (which..is basically what most MMT supporters want). He is right that a 70% top bracket won’t increase revenues by much.

jacoblambda 8y ago

Considering that Gates has publicly said that he wants the government to tax him more(He said it most recently during the AMA not to long ago) I would disagree.

dtornabene 8y ago
yeah, sort of. He isn't clamoring to be taxed quite yet. https://twitter.com/anandwrites/status/1087749307380523008?lang=en https://twitter.com/anandwrites/status/1087749307380523008?l...

threeseed 8y ago

None of this makes sense when you factor in that Bill Gates plans to give away all his money when he passes away. Many people in his position would be looking to try and make the world a better place for his children. Bill Gates however is simply technically strong and wealthy enough to do this through more direct means.

YjSe2GMQ 8y ago

I think the best argument against 70% on 10+mil income is the basic fact that it'll increase the tax take by only 0.3%, best case scenario (no tax dodging, no damage to the economy). This idea is almost not worth discussing. > One estimate puts extra annual revenue from Ms Ocasio-Cortez’s idea, which applies only to incomes above $10m, at perhaps $12bn, or 0.3% of the tax take. https://www.economist.com/leaders/2019/02/02/how-to-tax-the-rich https://www.economist.com/leaders/2019/02/02/how-to-tax-the-...

komali2 8y ago

Why, though? There's almost nothing anybody could do to put any sort of dent that Gates would ever feel into his wealth. He's so astronomically rich he's barely human. What could anybody do to affect him in a way that changes the things he could do with the money he has?